Record Number of Oil Tankers Pass through the Suez Canal in 2023

In its yearly report, www.Attaqa.net published a report on the activities of the Suez Canal. Record traffic enabled the Egyptian government to generate record revenues as shown in Figure (1). Revenues for December are Attaqa’s estimate. Foreign currencies are badly needed to support the struggling Egyptian economy and halt the collapse of the Egyptian pound. This increase in revenues was welcomed as exports declined by 22% YoY in the first three quarters of the year and Egyptian expats' remittances declined in 2023 by 15%, on top of the 10% decline in 2022.

A record number of oil tankers passed through the canal in 2023 as shown in Figure (2).